Highlights from CBS' presentation at a Wells Fargo tech/media conference

CBS (CBS+0.3%) COO Joe Ianniello says the company aims to preserve its current ecosystem in response to a question over upstart Aereo. The exec exuded confidence instead of panic over the Aereo challenge.

The most interesting revelation from the Q&A was the disclosure that CBS is open to buying cable networks if the opportunity looks to give it a strategic edge.

The company says it's in a good position due to its wealth of popular content. Bidding interest on CBS shows by streaming players has been strong.